FBT

Certain FBT benefits in relation to pooled cars are excluded from an employee’s payment summary or income statement under STP. As the 2020 FBT return preparation process is completed, one of the tasks is to identify whether benefits are required to be disclosed as Reportable Fringe Benefits. A common issue that arises is whether the …

What is the FBT relevance of employee contributions towards meal entertainment? Question We are a tax-exempt body and do not elect to use the 50-50 or 12 week register method to calculate the taxable value for meal entertainment provided during the FBT year. We provided an end of year party for our staff providing them …

Is reimbursement of a visa application cost subject to FBT? Question We have recently employed a new staff member and paid for their Visa application for their right to work in Australia. Is this subject to FBT as an expense payment benefit? Answer Transport provided to an employee and family members as a consequence of …

Some readers will be working towards the FBT return COVID-19 lodgement deadline of 25 June 2020. A few FBT year end tips may reduce the stress. As the FBT return COVID-19 lodgement deadline of 25 June looms it is time for the often thankless but nevertheless significant task of preparing the FBT return. We provide …

Providing an employee with a hire car raises the questions of whether a benefit is provided and if so how to determine its value. In response to a reader’s request we highlight the FBT ramifications of providing hire cars to employees. Due to a range of circumstances, employers may have provided a hire car to …

Is a person whom an employer has stood down due COVID-19 an employee for FBT purposes during the period of stand down? Question We have had to stand down some employees due to the COVID-19 crisis. If we provide benefits to these employees during the period they have been stood down does FBT arise? Answer …

Below, we provide answers to some questions arising where COVID-19 meets FBT. The unique times we find ourselves in will hopefully be a once in a lifetime experience for most of us. Unfortunately, as employers, FBT will not be a once in a lifetime experience for you! For example, there is a high probability your …

FBT where a single car is used for sequential periods in the FBT year by two separate employees. Question An employee recently joined us and they have been using an employer-provided car for private use. The new staff member is using the same car which was used by an employee who resigned from the position …

How is the gross taxable value calculated on a novated e-bike lease where the exemption in s. 47 FBT Act is not available? Question We have a number of novated leases for e-bikes where they are full private use, so do not fall under the residual benefit exemption set out in section 47 of the …

Does the issue of a new car registration (changed number plate) for a car have FBT implications? Question The licence plate number for one of our owned vehicles was stolen and as such a new plate number was acquired. The employee to whom the car was allocated left us after a couple of months and …